Nissan Q3 sales rise, accounting change
Nissan Motor Co, Japan's third-biggest automaker, reported a 16% rise in quarterly profit helped by a recovery in sales and some accounting changes.
TOKYO: Nissan Motor Co, Japan's third-biggest automaker, reported a 16% rise in quarterly profit on Friday, helped by a recovery in sales and some accounting changes.
October-December operating profit at Nissan, held 44% by Renault SA, was 211.94 billion yen ($1.99 billion), versus 183.1 billion yen in the same period a year earlier.
Third-quarter net profit grew 27% to 132.2 billion yen. For the full year ending on March 31, Nissan kept its forecasts unchanged for an operating profit of 800 billion yen and net profit of 480 billion yen, roughly in line with consensus forecasts from 20 brokerages.
Nissan's vehicle sales have recovered recently thanks to hit products such as the Rogue SUV in North America and Qashqai SUV in Europe, helping it make more use of its domestic car factories despite a shrinking Japanese market.
A change in the accounting period for some overseas units also helped. Carlos Ghosn, chief executive of both Nissan and Renault, had flagged a solid performance for the October-March half, with powerful growth continuing in the emerging markets of China, the Middle East and elsewhere.
Shares of Nissan lost 33% in the year to Thursday, underperforming Tokyo's transport sub-index ITEQP, which has fallen 26%.
October-December operating profit at Nissan, held 44% by Renault SA, was 211.94 billion yen ($1.99 billion), versus 183.1 billion yen in the same period a year earlier.
Third-quarter net profit grew 27% to 132.2 billion yen. For the full year ending on March 31, Nissan kept its forecasts unchanged for an operating profit of 800 billion yen and net profit of 480 billion yen, roughly in line with consensus forecasts from 20 brokerages.
Nissan's vehicle sales have recovered recently thanks to hit products such as the Rogue SUV in North America and Qashqai SUV in Europe, helping it make more use of its domestic car factories despite a shrinking Japanese market.
A change in the accounting period for some overseas units also helped. Carlos Ghosn, chief executive of both Nissan and Renault, had flagged a solid performance for the October-March half, with powerful growth continuing in the emerging markets of China, the Middle East and elsewhere.
Shares of Nissan lost 33% in the year to Thursday, underperforming Tokyo's transport sub-index ITEQP, which has fallen 26%.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
